The Chief Executive of Centrica, Iain Conn, has said that politicians have failed to make any changes to the energy market due to the tensions and the high costs associated with such a transition.
Speaking at ‘A New Era for Energy Politics’ in Davos, Conn described that the global transition to ‘clean energy’ in 50 years as, “very challenging”, despite the $10 trillion spent across the world on energy investment.
This can be seen in Germany, where it was discovered this week that Europe’s largest economy would fail to meet 2020 climate targets.
He said: “The tension is that politicians trying to drive the energy change so fast that it is extremely expensive, and one of the worst examples of this is Germany with energiewende. But if we harness the changing energy technological pathways, this change will accelerate more and more, so we have get the balance right of harnessing the benefits of technological learning.”
Conn said that political tensions are to blame for the vast expense of the renewable energy industry, which is being passed onto consumers.
In October last year, Conn said that customers should not be paying green subsidies through energy bills and called for greater transparency in government policy in the UK.